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<a href="https://tokeninsight.com/en/coins/goldfinch/overview" rel="noopener noreferrer nofollow">Goldfinch</a>, a DeFi protocol extending loans to real world bussiness, has faced a setback as a $5 million loan to Kenyan motorbike company Tugende defaulted. Tugende reportedly breached the loan agreement's terms, leading to the default, which accounts for about 4% of Goldfinch's Total Value Locked (TVL).This default will result in a net 3.95% write-down to the NAV of the Senior Pool. Since the APY on the Senior Pool has been 7.81% for the past year, this means the overall trailing 12-month APY at the end of this 120-day write-down will be a net positive 1.50%.Goldfinch is a decentralized credit protocol with a mission to expand access to capital and foster financial inclusion. The protocol makes crypto loans with real world assets as collateral. The Goldfinch community makes loans to companies around the world, starting with emerging markets.&nbsp;<a href="https://tokeninsight.com/en/cryptocurrencies" rel="noopener noreferrer nofollow">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a rel="noopener noreferrer nofollow">news@tokeninsight.com</a>. Your trust will be well respected.

Real World Asset Lending Protocol Goldfinch Face Loan Default

TokenInsight

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